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Japan to put up 1.5 b. dollars for green climate fund

  • October 26, 2019
  • , Jiji Press , 1:19 a.m.
  • English Press

Tokyo, Oct. 25 (Jiji Press)–The Japanese government said Friday it will additionally contribute up to 1.5 billion dollars to the U.N.-backed Green Climate Fund, designed to help developing countries combat global warming.
   

Japan’s total contribution to the fund will reach up to 3 billion dollars, compared with Britain’s 3.05 billion dollars.
   

At an international meeting in Paris for beefing up the fund, Japan said it will definitely put in one billion dollars and may add up to 500 million dollars to the fund.
   

The United States and Australia, which are both skeptical about global warming, refused to cooperate in the expansion of the fund.
 

Eight countries, including Britain, France and Germany, will double their contributions on a local currency basis.
   

The establishment of the fund was decided at the 16th Conference of the Parties to the U.N. Framework Convention on Climate Change, or COP 16, held in 2010.
   

The Green Climate Fund invests in projects, such as the construction of photovoltaic power generation facilities and flood prevention, in developing nations to help them mitigate damage from global warming.

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